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Wtioil

US oil short, strong divergence Oil looks good for a temporary respite on the march to close the gap at 41. We now have a nice strong divergence on the hour chart at the top of the rising wedge channel, we can probably expect a pull back to test either of the green support lines and possibly a test break of the rising wedge. Stop just above the hourly divergence, profits to be taken at each support level. If the divergence fails 41 may come sooner than expected... and we could consider reverses and going long
TVC:USOILShort
by breakoutfakeout
WTI- Crude Oil, Market recovery ? Or dead cat bounce After the historical sell off that we have recently seen in oil last month it is normal to see a quick price recovery back to normal levels. It has been in a downtrend since the start of the year, and now some country's and states are slowly easing lockdown restrictions which will start to see a demand for crude again, Although all storage spaces are full Opec are still announcing oil cuts as the weeks go by. So with that said the demand for oil will soon start picking up as flights will soon begin to resume in some countrys interstate, and international travel will soon resume for Australia to New Zealand trans-tasman flights. So after testing the $33 resistance area we have seen a slight pullback where price is now consolidating, A run up to $41 seems likely to me (no time frame given) which is also the 61.8 fib retracement on the daily time frame, and will also fill the huge gap that was formed from the 7th of March. But then again fundamentals can just blow all Technical Analysis out of the water. Remember, Dont trade on anyone else's ideas but your own, At the end of the day we trade for ourselves no one else. So this is my idea on WTI crude hope yous enjoy my idea. :)
TVC:USOILLong
by steevyp2820
WTI US OIL Outlook : High chance of a SHORT OPPORTUNITYHELLO EVERYONE, FEEL FREE TO LIKE AND FOLLOW IF YOU LIKE MY IDEAS! First of, H1 Time frame, shows a recent bearish double top pattern that lead to a sell off to the nearest support level @ 25.00. This is followed by a SHARP REJECTION at the resistance line @ 27.70, proving to be a tough barrier to break through. WTI is now fighting in the 25.00 - 26.00 range Possible Opportunities: - An hourly candle CLOSE ABOVE 26.00 followed by bullish confirmation would see WTI retest the resistance of @ 27.70, giving us a possible LONG opportunity to 27.70 - A BREAKDOWN BELOW 24.50-25.00 area of support would see us a SHORT opportunity to TP1 @ 20.60, an area of major support As always, remember to place your stop losses and good luck! Regards, Gol D Roger
TVC:USOILShort
by Gold_D_Roger
IS IT ALREADY THE TIME TO INVEST IN OIL?****************************************************************************************************************************************************************************** Decisions to buy, sell, hold or trade in securities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of “Day Trading” involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and the ability to bear financial risks. ***********************************************************************************************************************************************************
FX_IDC:USDWTILong
by Quotendance
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